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19. RESTATEMENT OF PRIOR PERIOD FINANCIALS (Tables)

7 Months Ended

9 Months Ended

Dec. 31, 2013

Sep. 30, 2014

Restatement Of Prior Period Financials Ttables

Accordingly, the consolidated balance sheet and statement of shareholders’ equity for the period from June 5, 2013 (Inception) to December 31, 2013 have been retroactively adjusted as summarized below:


Effect of Correction		As Previously				As
		Reported		Adjustments		Restated
Balance Sheet as of December 31, 2013
Convertible notes payable (net of debt discount) – current portion	$	2,930	$	2,426	$	5,356
Total current liabilities		46,142		2,426		48,568
Convertible notes payable (net of debt discount), less current portion		341,907		268,043		609,950
Total long term liabilities		343,157		268,043		611,200
Common stock		1,204,096		(270,469)		933,627
Total stockholders’ equity		493,134		(270,469)		222,665
Statement of Changes in Shareholders’ Equity for the Period from June 5, 2013 (Inception) to December 31, 2013
Discount on convertible notes December 27, 2013		289,811		(270,469)		19,342
Common stock		1,204,096		(270,469)		933,627
Total stockholders’ equity		493,134		(270,469)		222,665

As a result of the restatement, the table below sets forth the changes made in the consolidated financial statements for the restated period:


Effect of Corrections	As Previously Reported		Adjustments			As Restated (audited)
Balance Sheet as of December 31, 2013
Convertible notes payable (net of debt discount) – current portion	$	2,930	$	2,426	(1)	$	5,356
Total current liabilities		46,142		2,426	(1)		48,568
Convertible notes payable (net of debt discount), less current portion		341,907		268,043	(1)		609,950
Total long-term liabilities		343,157		268,043	(1)		611,200
Common stock		1,204,096		(270,469)	(2)		933,627
Total stockholders’ equity (deficiency)		493,134		(270,469)	(2)		222,665
Statement of Changes in Stockholders’ Equity for the Period from June 5, 2013 (Inception) to December 31, 2013
Discount on convertible notes December 27, 2013		289,811		(270,469)	(2)		19,342
Common stock		1,204,096		(270,469)	(2)		933,627
Total stockholders’ equity (deficiency)		493,134		(270,469)	(2)		222,665

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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